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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: loantech who wrote (498)8/29/2003 2:50:38 PM
From: ild  Read Replies (1) | Respond to of 110194
 
<<<have multi million dollar commitments >>>
Tom, who is the other party of this commitment? FNM I guess. But the loan applicant has no commitment, so if rates go down more he abandons the old deal and locks a better rate with another lender.

I heard that FNM/FRE doesn't buy a loan until it's like 90 days old. And this is the reason that some banks punish the broker if the loan is refied within this time.